Affordable Housing Drives Missoula Market Forward in 2009
In one of my previous entries in November I talked about the growing importance of the affordable ($100,000 to $250,000) segment of the Missoula housing market. Now that we have the final numbers for 2009, I can report that the trend continued, and in fact increased, both in terms of total dollar volume and unit sales signaling a major shift in our housing market. Check out the graphs below:
But here's the real news, look at how affordable housing surged forward in 2009 in dollar value:
What’s it mean? The total dollar value and number of homes sold in Missoula under $250k are both increasing, while homes priced higher are actually still declining in terms of unit volume and dollar value. So if you’re selling property priced higher than $250,000, expect lots of price pressure from the limited number of buyers out there. On the other hand, if you’re in the lower-priced category, things are much rosier with good activity. I’ll have a much more detailed look at the affordable segment in my next post.
Ryon, I'd be interested to know what you think of today's Missoulian article on the Bitterroot housing market. Love your blog.
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